US equities open on a broadly weak note. VIX is +5%, but still in the bizarrely low 13s. USD is +0.4% at 102.44. US 10yr has cooled to 3.71%.
sp’60min
VIX’60min
Summary
Early weakness… but its still nothing that merits any bearish hysteria, as we’re just stair stepping lower with choppy cooling.
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notable energy: DVN
Devon Energy lower with the main market/sector.
Momentum has turned negative.
Weekly support $43s.
FPE 7s. Y 9.5%… and I like this one.
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notable weakness: TSLA
Tesla just lower with the main market.
Momentum due to turn negative next Monday.
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notable strength: MMM
3M settling a water pollution lawsuit for around $12.5bn.
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notable miner: FCX
Lower with the main market, and with copper printing $3.79, the latter not helped by the stronger dollar. Momentum due to turn negative next Mon/Tues’.